Finance Act 2006 (c. 25)

SCHEDULES

SCHEDULE 9 U.K. Leases of plant or machinery: miscellaneous amendments

Capital Allowances Act 2001 U.K.

Phasing out of overseas leasing rules U.K.

13 (1) Section 105 of CAA 2001 (basic terms: “leasing”, “overseas leasing” etc) is amended as follows. U.K.

(2) After subsection (2) (“overseas leasing”) insert—

“(2A) In determining whether plant or machinery is used for overseas leasing, no account shall be taken of any lease finalised, within the meaning of Part 4 of Schedule 8 to the Finance Act 2006, on or after 1st April 2006.”.